Credit Policy & Receivables


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question 1 of 3

To whom should a company extend credit?

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1. A company's accounts receivable is shown on what document?

2. Which of the following is an example of an item that a creditor might include on its credit policy?

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About This Quiz & Worksheet

Accounts receivable and credit are both crucial elements of a company's finances. The quiz asks about the rules and practices governing their use in business settings.

Quiz & Worksheet Goals

The quiz has you:

  • Describe to whom a company should extend credit
  • Name the document that shows a company's accounts receivable
  • Give an example of an item that may appear on a credit policy
  • Explain how making a payment on your account impacts the receivable balance
  • Provide a reason why a company should possess a credit policy

Skills Practiced

  • Information recall - access your understanding of the lesson to note an item that could show up on a credit policy
  • Knowledge application - utilize your knowledge to describe why a company should have a credit policy
  • Reading comprehension - confirm that you understand the most essential information from the related lesson

Additional Learning

Review more on this topic in the related lesson called Credit Policy & Receivables. The lesson is centered on the following objectives:

  • Define credit policy
  • Explain how credit policies are enforced
  • Interpret examples of credit policies
  • Describe receivables